"This book is about the macroeconomics of inequality in the USA, beginning around 1970. The analysis is based on a data framework combining the distributions by size of income and wealth with the income and output sides of the national accounts, flows of funds, and full balance sheet accounting...

For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to...